Greenspan approach to the deflation has been characterized by the mother of all too little too late actions. I see no change in his view.
But compared the lunies that run the ECB he is postively Mr Action man. From here they will never lower rates in Europe.
They were actualy putting up rates as global business was collapsing and they kept them there until he broke the back of the US economy.
The economy has lost 2 million jobs in the last three years. Just let them try creating two million jobs as China builds up steam and the tech industries are disembowled ni front of us.
This is a real mess and the geraitric Fed Members have sat their moaned about inflation and allowed this to happen.
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